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Tuesday, Mar 19, 2024
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Toshiba America Pays Up in Price-Fixing Settlement

Toshiba Corp. and its North American chip and memory products unit based in Irvine paid $7.4 million as part of a $310 million settlement claim in a class-action lawsuit that alleged price fixing on one of the most common types of memory components.

The Toyko-based company and its local unit, Toshiba America Electronic Components Inc., were among several of the world’s largest technology companies that contributed to the settlement fund.

Others included Samsung, which contributed $113 million; and Micron, with $66.7 million.

TAEC and the other companies have denied any wrongdoing in the U.S. District Court for the District of Northern California in Oakland.

“TAEC and its parent Toshiba Corp. settled DRAM antitrust claims brought by class action lawyers for direct and indirect purchasers for nuisance value,” spokesperson Deborah Chalmers said. “Toshiba Corp., TAEC, and their employees were never indicted for and never pled guilty to price-fixing violations, unlike other companies in the DRAM industry.”

The lawsuit primarily affects consumers who bought devices containing DRAM from retailers or online.

That would exclude Fountain Valley-based Kingston Technology Inc., the top memory products maker for computers and consumer electronics and one of the largest DRAM buyers at wholesale in the world.

DRAM is the most common type of memory used in DVD players, graphics cards, computers and other products.

Some consumers will recover as little as $10 in the settlement, and large buyers could receive $1,000 or more if they purchased their devices between Jan. 1, 1998, and Dec. 31, 2002.

TTM Lowers Outlook

Costa Mesa-based circuit board maker TTM Technologies Inc. lowered its revenue and profit targets for the current quarter.

The company expects first-quarter revenue on the low end of its previous guidance of $290 million to $310 million and for adjusted profits to break even or hit $1.65 million on the high end. It previously targeted profits of $2.4 million to $7.4 million.

The company is scheduled to report first-quarter earnings April 30.

New Game Headsets for Blizzard

New York-based Turtle Beach Inc. signed a licensing agreement with Blizzard Entertainment Inc. to develop PC gaming headsets for the Irvine company’s upcoming multiplayer fighting game.

Turtle Beach, the gaming audio brand of Poway-based Parametric Sound Corp., made seven of the top 10 best-selling gaming headsets last year, according to NPD Group Inc.

Parametric trades under the Nasdaq ticker HEAR and had sales of about $563,000 in the 12 months through September.

Blizzard’s free-to-play game, “Heroes of the Storm,” draws from two decades of Blizzard lore, pitting favorite characters from its Warcraft, StarCraft and Diablo franchises.

The company hasn’t disclosed the business model, but free-to-play titles typically incorporate some e-commerce mechanism offering players the option to boost power levels and add weapons or accessories.

The game underscores Blizzard’s efforts to lure players back with a lineup of video games steeped in nostalgia as it ushers in a new era of titles and gaming styles.

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